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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: Elroy Jetson who wrote (12824)10/4/2004 10:09:59 PM
From: GraceZ  Read Replies (1) of 116555
 
The American economy is suffering from excessive debt and the Fed is trying to solve the problem by creating massive amounts of new debt to maintain spending.

I thought, earlier, you were arguing that the equity extraction was not solely a function of the low interest rates.

I agree that the Fed has no business in attempting to create prosperity (something Congress seems to think is it's prime directive), that real wealth can only be created through human effort. Inflating RE values and fiat creation add nothing of value to the economy. I argued the first point rather vigorously a while back on this very thread.
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